Activities of Claudia GAMON related to 2023/0076(COD)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 1227/2011 and (EU) 2019/942 to improve the Union’s protection against market manipulation in the wholesale energy market
Amendments (33)
Amendment 97 #
Draft legislative resolution
Citation 2
Citation 2
having regard to Article 294(2), Article 194(2) and Article 194(2)14 of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C9 0050/2023),
Amendment 98 #
Proposal for a regulation
Citation 1
Citation 1
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 194(2) and Article 114 thereof,
Amendment 114 #
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6a) Where information is not, or no longer, sensitive from a commercial viewpoint, the Agency should be able to make its commercially non-sensitive trade database available for scientific purposes, subject to confidentiality requirements, with a view to contributing to enhanced market knowledge. This will help build confidence in the market and foster the development of knowledge about the functioning of wholesale energy markets. The Agency should establish and make publicly available rules on how it will make the information available for scientific and for transparency purposes in a fair and transparent manner.”
Amendment 126 #
Proposal for a regulation
Recital 13 a (new)
Recital 13 a (new)
(13a) The reporting obligations on market participants should be minimised by collecting the required information or parts thereof from existing sources where possible. Market participants are not able to record and report organised market place data with ease, therefore organised market place data should be made available to the Agency by the relevant organised market places or by third parties acting on their behalf.
Amendment 136 #
Proposal for a regulation
Recital 18 a (new)
Recital 18 a (new)
(18a) It is essential that compliance with the rules on market abuse be strengthened by the availability of criminal sanctions, which demonstrate a stronger form of social disapproval compared to administrative penalties. Establishing criminal offences for at least serious forms of market abuse sets clear boundaries for types of behaviour that are considered to be particularly unacceptable and sends a message to the public and to potential offenders that competent authorities take such behaviour very seriously.
Amendment 138 #
Proposal for a regulation
Recital 18 b (new)
Recital 18 b (new)
(18b) Not all Member States have provided for criminal sanctions for some forms of serious breaches of national law implementing Regulation (EU) 1227/2011. Different approaches by Member States undermine the uniformity of conditions of operation in the internal market and may provide an incentive for persons to carry out market abuse in Member States which do not provide for criminal sanctions for those offences. In addition, there has, to date, been no Union-wide understanding of conduct that is considered to constitute a serious breach of the rules on market abuse. Therefore, minimum rules should be established with regard to the definition of criminal offences committed by natural persons, liability of legal persons and the relevant sanctions. Common minimum rules would also make it possible to use more effective methods of investigation and enable more effective cooperation within and between Member States. The absence of common criminal sanction regimes across the Union creates opportunities for perpetrators of market abuse to take advantage of lighter regimes in some Member States. The imposition of criminal sanctions for market abuse will have an increased deterrent effect on potential offenders.
Amendment 139 #
Proposal for a regulation
Recital 18 c (new)
Recital 18 c (new)
(18c) The introduction by all Member States of criminal sanctions for at least serious market abuse offences is therefore essential to ensure the effective implementation of Union policy on fighting market abuse.
Amendment 170 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point f
Article 1 – paragraph 1 – point 2 – point f
Regulation (EU) No 1227/2011
Article 2 – paragraph 1 point (4), point (a)
Article 2 – paragraph 1 point (4), point (a)
(a) contracts for the supply of electricity or natural gas, including LNG market data, where delivery is in the Union or contracts for the supply of electricity or natural gas which may result in delivery in the Union;”;
Amendment 174 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point g
Article 1 – paragraph 1 – point 2 – point g
Regulation (EU) No 1227/2011
Article 2 – paragraph 1, point (7)
Article 2 – paragraph 1, point (7)
(7) ‘market participant’ means any person, including transmission system operators, LNG market participant and persons professionally arranging or executing transactions when trading on their own account, who enters into transactions, including the placing of orders to trade, in one or more wholesale energy markets; ”;
Amendment 189 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Regulation (EU) No 1227/2011
Article 3 – paragraph (–1)
Article 3 – paragraph (–1)
(2a) in Article 3, before Paragraph (1) the following paragraph (-1) is inserted: “(-1) Member States shall take the necessary measures to ensure that insider trading as referred to in Paragraphs 1 to 4 of this article constitutes a criminal offence at least in serious cases and when committed intentionally.”
Amendment 191 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – introductory part
Article 1 – paragraph 1 – point 4 – introductory part
Regulation (EU) No 1227/2011
Article 4 – paragraph (–1)
Article 4 – paragraph (–1)
(4) Article 4 is amended as follows: (-a) in Article 4, before paragraph 1 the following paragraph (-1) is inserted: “(-1) Member States shall take the necessary measures to ensure that failure to disclose inside information as referred to in paragraphs 1 to 7 constitutes a criminal offence at least in serious cases and when committed intentionally."
Amendment 205 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1227/2011
Article 4a – paragraph 4a (new)
Article 4a – paragraph 4a (new)
4a. In Article 4a, the following paragraph 4a is added after paragraph 4: Where the Agency finds that an IIP has committed one of the infringements of requirements provided for in paragraphs 1 to 4 of this article, it shall take one or more of the following actions: (a) adopt a decision requiring the person to bring the infringement to an end; (b) adopt a decision imposing fines with a maximum amount of EUR 200 000 or, in the Member States whose currency is not the euro, the corresponding value in the national currency; (c) issue public notices.
Amendment 209 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1227/2011
Article 4a – paragraph 6
Article 4a – paragraph 6
The Commission shall, by means of implementingdelegated acts, specify by 1 April 2024:
Amendment 212 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1227/2011
Article 4a – paragraph 6, point (c)
Article 4a – paragraph 6, point (c)
(c) the concrete organisational requirements for the implementation of paragraph 4., and
Amendment 213 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
(ca) the rules of procedure for the exercise of the supervisory power to impose fines, including provisions on the rights of the defence, temporal provisions, and the collection of fines or periodic penalty payments, and the limitation periods for the imposition and enforcement of fines.”
Amendment 218 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1227/2011
Article 4a – paragraph 6 a
Article 4a – paragraph 6 a
6a. The Agency shall develop by [one year after entry into force of this Regulation] and operate a platform serving as a sector-specific electronic access point for inside information disclosed in accordance with Article 4(1) of this Regulation.
Amendment 219 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 a (new)
Article 1 – paragraph 1 – point 5 a (new)
(5a) before the first paragraph of Article 5, the following paragraph (-1) is added: (-1) Member States shall take the necessary measures to ensure that market manipulation as referred to in paragraph 1 constitutes a criminal offence at least in serious cases and when committed intentionally.
Amendment 222 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6 a (new)
Article 1 – paragraph 1 – point 6 a (new)
Regulation (EU) No 1227/2011
Article 6a (new)
Article 6a (new)
(6a) New Article 6a is added: "Article 6a Criminal penalties for natural persons 1. Member States shall take the necessary measures to ensure that the offences referred to in Articles 3 to 5 are punishable by effective, proportionate and dissuasive criminal penalties in serious cases and when committed intentionally. 2. Member States shall take the necessary measures to ensure that such offences referred to in Articles 3 and 5 are punishable by a maximum term of imprisonment of at least four years. 3. Member States shall take the necessary measures to ensure that such offences referred to in Article 4 is punishable by a maximum term of imprisonment of at least two years.
Amendment 223 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6 b (new)
Article 1 – paragraph 1 – point 6 b (new)
Regulation (EU) No 1227/2011
Article 6b (new)
Article 6b (new)
Amendment 235 #
Proposal for a regulation
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Regulation (EU) No 1227/2011
Article 7c – paragraph 4a
Article 7c – paragraph 4a
4a. By [1 year following the entry into force of the Regulation], the Commission shall, after consulting the Agency, submit a report to the European Parliament and to the Council reviewing the LNG market participants’ double-reporting of LNG market data for the purposes of the LNG price assessment and benchmark and market monitoring under Regulation (EU) No 1227/2011 (REMIT). Subject to the conclusions of that report, the Commission may adopt an implementing act in accordance with the examination procedure referred to in Article 21(1).
Amendment 242 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 1227/2011
Article 9 – paragraph 1
Article 9 – paragraph 1
1. Market participants entering into transactions which are required to be reported to ACER in accordance with Article 8(1) shall register with the national regulatory authority in the Member State in which they are established or resident. Market participants resident or established in a third country shall declare an office , that controls and executes trading activities related to European wholesale energy markets in one of the Member States in which they are active, and register with the national regulatory authority of that Member State.”;
Amendment 250 #
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Article 1 – paragraph 1 – point 11
Regulation (EU) No 1227/2011
Article 9a – paragraph 3a
Article 9a – paragraph 3a
3a. Where the Agency finds that an RRM has committed one of the infringements of requirements provided for in paragraphs 1 to 3 of this Article, it shall take one or more of the following actions: (a) adopt a decision requiring the person to bring the infringement to an end; (b) adopt a decision imposing fines with a maximum amount of EUR 200 000 or, in the Member States whose currency is not the Euro, the corresponding value in the national currency; (c) issue public notices.
Amendment 254 #
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Article 1 – paragraph 1 – point 11
Regulation (EU) No 1227/2011
Article 9a – paragraph 5
Article 9a – paragraph 5
The Commission shall by means of implementingdelegated acts specify by 1 April 2024:
Amendment 257 #
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Article 1 – paragraph 1 – point 11
Regulation (EU) No 1227/2011
Article 9a – paragraph 5, point (a)
Article 9a – paragraph 5, point (a)
(a) the means by which an RRM shall comply with the information obligation referred to in paragraph 1; and
Amendment 258 #
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Article 1 – paragraph 1 – point 11
Regulation (EU) No 1227/2011
Article 9a – paragraph 5, point (b)
Article 9a – paragraph 5, point (b)
(b) the concrete organisational requirements for the implementation of paragraphs 2 and 3.; and
Amendment 259 #
Proposal for a regulation
Article 1 – paragraph 1 – point 11
Article 1 – paragraph 1 – point 11
Regulation (EU) No 1227/2011
Article 9a – paragraph 5, point (b a)
Article 9a – paragraph 5, point (b a)
(ba) the rules of procedure for the exercise of the supervisory power to impose fines, including provisions on the rights of the defence, temporal provisions, and the collection of fines or periodic penalty payments, and the limitation periods for the imposition and enforcement of fines.
Amendment 263 #
Proposal for a regulation
Article 1 – paragraph 1 – point 13 – point b
Article 1 – paragraph 1 – point 13 – point b
Regulation (EU) No 1227/2011
Article 12 – paragraph 2
Article 12 – paragraph 2
2. SThe Agency shall contribute to the establishment of a common Union energy data strategy. It shall develop and maintain a reference centre of information on EU wholesale energy market data. For the purpose of improving market transparency, subject to Article 17, ACER may decide to make publicly available parts of the information which it possesses, provided that commercially sensitive information on individual market participants or individual transactions or individual market places are not disclosed and cannot be inferred. ACER shall not be prevented from publishing information on organised market places, IIPs, RRMs according to applicable data protection laws.”; The Agency may make its commercially non-sensitive trade database available for scientific purposes, subject to confidentiality requirements. Information shall be published or made available in the interest of improving transparency of wholesale energy markets and provided it is not likely to create any distortion in competition in those energy markets. The Agency shall disseminate information in a fair manner according to transparent rules which it shall draw up and make publicly available. The Agency may cooperate in areas of common interest with those supervisory authorities in countries which are not members of the Union and international organisations which can provide data, information and expertise, methodologies of data collection, analysis and assessment which are of mutual interest and which are necessary for the successful completion of the Agency’s work.
Amendment 267 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point a
Article 1 – paragraph 1 – point 14 – point a
Regulation (EU) No 1227/2011
Article 13 – paragraph 1
Article 13 – paragraph 1
National regulatory authorities shall ensure National regulatory authorities shall ensure that the prohibitions set out in Articles 3 that the prohibitions set out in Articles 3 and 5 and the obligations set out in Articles and 5 and the obligations set out in Articles 4, 8, 9 and 15 are applied. 4, 7c, 8, 9 and 15 are applied.
Amendment 275 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point b
Article 1 – paragraph 1 – point 14 – point b
Regulation (EU) No 1227/2011
Article 13 – paragraph 3
Article 13 – paragraph 3
3. In order to fight against breaches of the provisions of this Regulation, to support and complement the enforcement activities of the national regulatory authorities, and to contribute to a uniform application of this Regulation throughout the Union, the Agency may carry out investigations by exercising the powers conferred onto it by and in accordance with Articles 13a andto 13bk.
Amendment 276 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point b
Article 1 – paragraph 1 – point 14 – point b
Regulation (EU) No 1227/2011
Article 13 – paragraph 4
Article 13 – paragraph 4
4. The Agency may exercise its powers to ensure that the prohibitions set out in Article 3 and Article 5 and the obligations set out in Article 4 are applied where:
Amendment 281 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point b
Article 1 – paragraph 1 – point 14 – point b
Regulation (EU) No 1227/2011
Article 13 – paragraph 4, point (a)
Article 13 – paragraph 4, point (a)
(a) acts related to the allegation are being or have been carried out on wholesale energy products for delivery in at least three Member States; or
Amendment 287 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point b
Article 1 – paragraph 1 – point 14 – point b
Regulation (EU) No 1227/2011
Article 13 – paragraph 4, point (b)
Article 13 – paragraph 4, point (b)
(b) acts related to the allegation are being or have been carried on wholesale energy products for delivery in at least two Member States and at least one of the natural or legal persons who is carrying or carried out these acts is resident or established in a third country but registered pursuant to Article 9(1)nother Member State or in a third country; or
Amendment 296 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point b
Article 1 – paragraph 1 – point 14 – point b
Regulation (EU) No 1227/2011
Article 13 – paragraph 4, point (d)
Article 13 – paragraph 4, point (d)
(d) the relevant information as defined in Article 2(1) of this Regulation is likely to significantly affect the prices of wholesale energy products for delivery in at least three Member Statescompetent national regulatory authority requests the Agency to exercise its powers in acts, even if not falling within points a), b) or c).